All Forum Posts by: Jerrold Simmons

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Greensboro.

Purchase price: $70,000
Cash invested: $14,000

Great Duplex Find. This was my first deal. 3/2 duplex on Bessemer Ave. Had to do about $2000 in upgrades, and inherited long term renters. this was a home run for my first deal.

Investment Info:

Single-family residence buy & hold investment in Reidsville.

Purchase price: $68,000
Cash invested: $14,000

I bought this property from a contractor who flipped it. 3/1 in quiet court. Wonderful house because all the work had been done on it.

What made you interested in investing in this type of deal?

I liked the idea that a contractor had come in and totally flipped it. I was buying a new house in theory under $70000.

How did you find this deal and how did you negotiate it?

found this through Zillow, and worked with a local agent.

How did you finance this deal?

traditional mortgage

How did you add value to the deal?

This house by being totally new was the upgrade. It took me 2 hours to find a renter.

What was the outcome?

it has been a great investment. I have not had to pay $1 in upkeep.

Lessons learned? Challenges?

but something totally flipped when you yourself cant fix things.

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Greensboro.

Purchase price: $70,000
Cash invested: $14,000

Great Duplex Find. This was my first deal. 3/2 duplex on Bessemer Ave. Had to do about $2000 in upgrades, and inherited long term renters. this was a home run for my first deal.

What made you interested in investing in this type of deal?

This was my first deal! i bought it from the owner who had bought it through foreclosure a few years earlier. He was looking to move to new investments. I purchased it, and received 2 long term renters in the process.

How did you finance this deal?

traditional mortgage

How did you add value to the deal?

In one side i had to put in new carpet and paint. This was not as expensive as I thought. I have had little problems with this duplex.

What was the outcome?

The value estimate for this duplex in now over $105000. it continues to have a cap rate of 12%.

Lessons learned? Challenges?

START INVESTING!!!!

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $89,000
Cash invested: $17,500

Clean and Updated Duplex in Burlington, NC. Just purchased from the builder/owner. He was trying to retire. i inherited a renter, and have rented out the other side. 8% Cap rate

What made you interested in investing in this type of deal?

I love the idea of Multi family. Still new to this but this makes my second duplex. This one was a find.

How did you find this deal and how did you negotiate it?

Found the listing on Zillow, and made an offer that day.

How did you finance this deal?

Through my LLC.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Matt Ingram, Ingram Group in Kernersville, NC